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. >> arthel: mixed messages on fiscal cliff, next today. republican senator lindsay graham expressing optimism on deal and president obama is calling out lawmakers for rejecting offers for last month. >> what do you think the chances of a small deal in the less 48 hours to avoid the cliff? >> exceedingly good. i think what have we accomplished, a political vick for the president. the president has stood his ground. he is going to get tax rate increases but upper income americans and sad news for the country we have accomplished very little of not becoming greece. this won't affect the debt situation. it will be a political victory for the president and i hope we'll have the courage of our convictions when it comes time to raise the debt ceiling to fight for what we believe in. but hats off to the president. >> we have been talking to the republicans since the election has been over. they have had trouble to say yes to a number of repeated offers. >> so what kind of deal if any can we expect before the clock runs out? joining us for a fair balanced debate, tony is here, national political corre
will wrap up the fiscal cliff talks next week. >> time now to entertain this. it is official jessica simpson expecting another baby. the 32-year-old celebrity tweet add photo of her daughter sitting in front of a sign drawn in the sandwich says big sis. cute little girl isn't she? the announcement comes 7 months after giving birth to that little girl her first child. it has been a good year for hollywood 2012 marched through the industry's highest year on record for 1 billion in ticket sales. is rock and roll hazardous to your health? it might be. you to those playing it. researches in inge lantd studying more than 1500 musicians famous between 1956 and 2006. they found 137 of nthem or 9.2 percent of them were dead. that is a higher mortality rate than those in the general population. >> time to look at the sports stories new season but same results. lebr lebron james and the heat. suddenly the lashgs can't lose. 194 for the fourth straight win. they are back for 500 for the season. kobe bryant a record for the 16th christmas day game. heartwarming video of an alabama christmas fan getting a
" website. you'll find links and the latest over the battling turnover fiscal cliff. we'll see you here next week on "washington week." good night and happy new year. >> funding for "washington week" is provided by -- >> this rock has never stood still. since 1875 we've been there for our clients through good times and bad. when their needs changed, we were there to meet them. through the years from insurance to investment management, from real estate to retirement solutions, we've developed new ideas for the financial challenges ahead. this rock has never stood still. and that's one thing that will never change. prudential. corporate fund for "washington week" is provided by -- norfolk southern, boeing. additional funding for "washington week" is provided by the annenburg foundation. the corporation for public broadcasting, and by contributions to your pbs station from viewers like you. thank you. >> ♪ a-wimoweh a-wimoweh a-wimoweh a-wimoweh eee... ♪ >> join us for "the weavers: wasn't that a time" -- the award-winning classic film that documents the career of america's premier folk-sin
they do something or not the next day after the fiscal cliff there is going to be a bill in congress to lower tax rates after all the tax rates expire below $250,000. maybe at this point it looks like the big win that the republicans might get, if you want to call it that, is extending that slightly upwards to $400,000 or $500,000. this is bare bones deal. we're not solving our fiscal approximate and not discussing it. this is going to be fought another day, perhaps in a month with the debt ceiling. >> gregg: "wall street journal" probably had in an op-ed today the best line of the week. we'll put it up on the screen. the fiscal cliff melodrama is bad cabling reality show, real housewives of new jersey without the seven siartd without though not without the plastic surgery. they are phony and the "wall street journal" is basically arguing here the politicians are just like them. they are actors, pretending to do something meaningful about crisis of their own creation and none of them seems terribly sincere about doing something fundamental in $16.4 trillion. fair point? >> but the re
, the fiscal cliff into plain english or maybe just simple arithmetic. at the bottom of the york, what should investors expect? will the fiscal ) as of them? don't go away. ♪ >> my new year's resolution is to keep going with my personal trainer. ♪ gerri: up next, some of those trillion dollar figures into perspective. the spending problem if it were your household budget. next. gerri: there is a reason we call this segment back of the envelope. we try to explain in plain english some of the more complicated financial issues. the big issue today, the fiscal cliff. and you may be asking yourself, why is this so important? what is so cataclysmic about our nation's finances that we need to implement these monster tax increases and make draconian spending cuts. well, if you want to understand the government and its problems, take a look at these numbers. let's start with tax revenue. these are the nation's tax revenues. what you have your is just over 2 trillion in income. that's all it is really. and look at these euros. a very big number. the spending in the federal budget. you will notice t
a small deal on taxes before the fiscal cliff deadlines up, their next fight over the dead ceiling will be queued up and ready to go. whether or not we go over the fiscal cliff tomorrow night, a political stand-off over the debt ceiling is imminent. joining us sort through all of this current and future fiscal crises is ezra klein. at "the washington post" as well as columnist for bloomberg view. thanks for joining us. you addressed the issue of what happens next, i saw you on rachel's show friday. your theory are it's key to how the fiscal cliff plays out. explain. >> there's a significant difference of opinion in the political ramification of what happens if we go over and it comes down debt ceiling. if we go over the fiscal cliff they have all of the leverage because we'll go into the debt ceiling and it will be just like 2011 again. they'll say we're not going to raise the debt ceiling unless you cut entitlements, barack obama will say no and terrified of consequences of national default he'll say yes. so they'll get all of the entitlement cuts with no tax increases on the tabl
is if you go over the fiscal cliff immediately, next year you start with a lot more option for how to deal with it, rather than just a discussion of income levels. a million-dollar threshold or $250,000 threshold speaker which is what we are all talking about. >> that's exactly right. the travesty has been the line drawn, $250,000 and john boehner working his way towards that in terms of tax cuts. but then not coming to an agreement. it left all of the other areas out there that we haven't dealt with. medicare and other big entitlements. we still don't know the outlines of dealing with discretionary spending. as you said, all those other parts have been like left as we focus on this one fight, a fairly small part of it. heather: thank you for joining us, we will see what happens two hours from now we want washington is on high alert as new photos suggest north korea may be preparing for a nuclear test. we will have the latest on this developing story. heather: and american hero remembered today. storm in norman, the man who led us to victory in the first gulf war. >> i have to tell you kno
to happen when it comes to the fiscal cliff. number one, we're going to see an agreement in the next 48 hours, in which case middle class taxes will not go up. if that doesn't happen, then democrats in the senate will put a bill on the floor of the senate, and republicans will have to decide if they are going to block it, which will mean that middle class taxes do go up. i don't think they will want to do that politically, but they may end up doing it. >> that, of course, from our interview just moments ago with the president. i sat down with him yesterday at the white house. putting the onus squarely on congressional leaders to either do a comprehensive package now or a short-term solution to prevent middle class taxes from going up. joining me now, nbc news political director and chief white house correspondent chuck todd. nbc news special correspondent tom brokaw. the author of -- the "new york times" best selling boom book, "thomas jefferson: the art of power," jon meacham. and presidential historian and author of the lincoln biography "team of rivals" doris kearns goodwin. david br
of a truman era farm bill in the fiscal cliff. we will explain coming up next. greg: i love milk. also, politics and the lives of orphans. banning u.s. families from adopting russian children from and what it might mean for the future of parents everywhere who want to adopt children overseas really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome. [ male announcer ] yes, it is. that's the cold truth! ♪ i don't wanna be right [ record scratch ] what?! it's not bad for you. it just tastes that way. [ female announcer ] honey nut cheerios cereal -- heart-healthy, whole grain oats. you can't go wrong loving it. heather: welcome back. epa administrator lisa jackson up and down after four years on the job. her tenure has been marked by controversy. including a high-profile fight with republicans over the keystone pipeline. she is also accused of using a secret e-mail alias to conduct official business. in a statement, she gave no reason for her departure, but said that she would be ready for a new challenge
and optimistic. will congress pass something in the next 48 hours, something to avoid the fiscal cliff? >> i don't know. but i guess probably. and it will be a bad deal but i suppose better than doing nothing. amazing every working american's taxes will go up on january 1. they are doing nothing about the payroll tax which is a big increase, 2%. and we will have totally irresponsible defense cuts. everybody agrees this is probably bad policy to have middle class americans taxes go up and this is what congress thinks is a good deal. >> chris: i'm not sure they think it is a good deal but a deal that avoids the worst of the fiscal cliff. senator bayh, obviously we don't know what is your sense? no filibuster in the senate. you heard what lindsey graham said and do republicans pass whatever it is that the senate agrees to? >> i think the odds are some what better than 50/50, chris, that we get a minimal deal in the senate. not one that solves our debt problem as you pointed out earlier and this is all just a prequel to going over this again around the first of march over the debt ceiling. the real
it comes to the fiscal cliff. number one, we're going to see an agreement in the next 48 hours in which case middle-class taxes will not go up. if that doesn't happen, then democrats in the senate will put a bill on the floor of the senate, and republicans will have to decide if they're going to block it, which will mean that middle-class taxes do go up. i don't think they would want to do that mitticalpolitically, bu may end up doing it. if republicans do decide to block it and middle-class families' taxes do go up january 1st, we'll come back with a new congress january 4th. the first bill that will be introduced on the floor will be to cut taxes on middle-class families. i don't think the average person is going to say, gosh, you know, that's a really partisan agenda on the part of either the president or democrats in congress. i think people will say, that makes sense because that's what the economy needs right now. so one a or another, we'll get through this. do i wish that things were more orderly in washington and rational and people listen to the best arguments and compromised a
, sanjay. >>> more on our special coverage of the fast moving negotiations over the fiscal cliff. up next, hear why one high profile democrat says going over the cliff would be good for the stock market. and your 401(k). check this out.  >>> a compromise on the estate tax may be part of a last minute deal in the fiscal cliff. we're talking about how much money you can leave for your loved ones after you die. republicans want to extend the current estate tax that tops out at 35% and affects the states. the outline of the deal that just has been floated together would set the estate tax at 40% and the threshold at $5 million. let's bring christine romans in to make sense out of all of this. what do the numbers mean to real people? >> what it means, it is a victory politically for republicans and it means many republicans have said for a small business owner, small family farmers, people who have worked hard and amassed an estate, it means that they won't have to pay much more than they currently do for an estate tax. this is a true compromise here. because this is what you
-- are we going over the fiscal cliff? >> well, i think we're going to find out in the next 48 hours what congress decides to do. but i think it's important for the american people to understand exactly what this fiscal cliff is. because it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended and they're all about to expire at the end of the year. so on midnight, december 31st, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire economy, that means consumers have a lot less money to make purchases, which means businesses are going to have a lot less customers, which means that they're less likely to hire and the whole economy could slow down at a time when the economy is starting to pick up and we're seeing signs of recovery in housing and employment numbers improving. so what congress needs to do first and foremost, is to prevent taxes from going up for the vast majority of americans. and this was a major topic of discussion throughout the campa
to talk about the fiscal cliff, at least for the next four hours. lawmakers on capitol hill have been trying to strike a deal before the midnight deadline. another update is next. on "the fox report." [ lisa ] my name's lisa, and chantix helped me quit. i honestly loved smoking, and i honestly didn't think i would ever quit. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. it put me at ease that you could smoke on the first week. [ male announcer ] some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. if you notice any of these stop taking chantix and call your doctor right away. tell your doctor about any history of depression or other mental health problems, which could get worse while taking chantix. don't take chantix if you've had a serious allergic or skin reaction to it. if you develop these stop taking chantix and see your doctor right away as some can be life-threatening. if you have a history heart
falling over the fiscal cliff. senate leaders need to put something together to avoid tax increases for just about everyone and big spending cuts. senator claire mccaskill says a make or brake deal comes down to a few lawmakers on topic of raising taxes for the wealthy. >> it remains to be scene whether the republicans being driven by a very extreme group of house members will allow our economy to pert because of their desire to protect multimillionaires in this country. that's what it's going to boil down to. >> any plan would need house speaker john baner to bring it to the floor for a vote. republican representative tom cole says he's confident that boehner can get the votes he needs. >> on the speaker's plan, he had over 200 republican votes, it's not as if he had an awfully strong hand to play, if it's a deal john boehner can accept, it will be passed in a bipartisan manner with a very strong majority. if on the other hand he's neutral or not favorable, his chances will be a lot slimmer. >> lisa desjardins following the fiscal cliff negotiations on capitol hill. do you have any
as we're headed in to this fiscal cliff. >> you can probably ask people this next thing off the street, to give examples of the dysfunction of this congress because so many of these have been high profile. >> well, sure. there's so many different things of the debate, the standoff and both sides took some hits for. the super-committee failure setting this in motion the first place. the near shutdown of the government in 2011 and the defeat of the disabilities treaty that was because of republicans not liking the united nations, anything with u.n. on it. that went down even with bob dole on the floor, you know, at the senate, coming back, hoping republicans help pass it and would not. >> last thing and quickly, do you have some arguing that, you know what? it's okay passing fewer bills. some argue smaller government and government not intruding in the lives of americans as much. >> no question about it. we have heard it of republicans and conservatives saying the government doesn't need to be doing more but less because it's doing too much, spending too much so the less it does, the bet
in the next nine days to avoid the fiscal cliff we ring in the new year with big tax increases and spending cuts. here to talk about what is going to happen are two leading senators. john barasso, chairman of the republican policy committee and from new york democrat kent conrad, chairman of the senate budget committee. senators welcome back to "fox news sunday." >> thanks for having me. >> good to be with you. >> chris: before heading to hawaii for christmas the president laid out a new stripped down plan to avert the fiscal cliff. here is what it is. extend the bush tax cuts for people making less than $250,000. extend unemployment benefits for the 2 million people who will run out next month and delay the sequester of $110 billion in spending cuts next year. for all of the talk of $4 trillion in debt reduction this plan would only save $800 billion over ten years. senator conrad is that the best that washington can do over the next nine days and can you pass even that? >> look, chris, it may come to that but we can do better. and we should do better. this is an opportunity to do somethin
, a couple of days ago you said you thought we were going to go over the fiscal cliff and now we are in the midst of a lot of last-ditch bargaining between the senate leaders, reid and mcconnell, what are the chances for a small deal in the next, less than 48 hours to avoid the cliff. >> exceedingly good. i think people don't want to go over the cliff, if we can avoid it. i think, whatever we accomplish, political victory to the president, hats off to him, he stood his ground and will get tax increases, maybe not 250 but upper income americans and the sad news is we have accomplished little, in terms of not becoming greece, that bill will not affect the debt situation and it will be a a political victory for the president and i hope we have courage of our convictions, when it comes to raise the debt ceiling to fight what we believe as republicans. hats off to the president, he won. >> chris: quick follow-up, before we turn to senator feinstein, you said you don't think your conservative colleagues in the senate will filibuster or set up a procedural roadblock, they'll vote to avo
. will congress pass something in the next 48 hours, something? to avoid the fiscal cliff? >> i don't know. but, i guess, probably. and it will be a bad deal but i suppose better than doing nothing. and, every working american's taxes will go up january 1st if they do nothing about the payroll tax, a pretty big increase, and, defense cuts and everyone agrees, with that policy to have middle class americans' taxes go up, and, it totally irresponsible defense cuts and this is what congress thinks is a good deal. >> chris: i'm not sure it is a good deal but avoids the worst of the fiscal cliff. senator bayh -- obviously, we don't know, what is your sense, no filibuster in the senate? you heard lindsay graham and do republicans pass whatever the senate agrees to? >> the odds are somewhat better than 50/50 we get a minimal deal in the senate. not one that solves our debt problem, as you pointed out earlier and this is a prequel to going through it again around the first of march over the debt ceiling and getting us through this crisis, slightly better than 50-50 and the real question is in the house of
on the fiscal cliff. one of the big questions is, what will happen next? editor at large for fortune magazine, he joins us from new york right now. you have followed most of the major economic stories for more than 20 years now. >> i'm not trying to make you seem old. sometimes i do, when i say how long i've been doing this. is this the first time you've seen something go this close to the wire? >> i think so, don. and what's really troubling about the debate is really missed by a lot of commentators, this is really a spending issue. we understand that even if taxes go up on individuals making over 200,000 and families making over 250, it only plugs about 8% of the deficit problem over the next ten years, we have a $1.3 trillion deficit for 2012. it's going to be about a trillion through 2013. we're borrowing 35 cents on the dollar. the enormous problem is interest rates are way below normal, so when they spike, the government is borrowing very short term to keep its costs down. the deficit is going to swamp the economy. and at that point you're going to have the debt crisis, and you're going
this deal may not happen next. obviously a lot of attention tonight on the fiscal cliff. we're inside 30 hours until the expiration date on tax cuts. there are other important bits of business on capitol hill before the end of the year. in other words, in the next 30 hours or so. on friday, the senate approved a more than $60 billion bill to pay for construction costs for superstorm sandy. you see the video of that here. the house still needs to vote on that legislation. it isn't clear yet what the house is going to do. molly henneberg is live in d.c. there's a holdup in the house. what is it? >> the price tag. house republicans say it's too steep. a south carolina republican congressman said he and others want to help the people hurt by sandy but lawmakers need to figure out where the money's going to come from. >> it's not paid for. i know that's a difficult conversation to have but it's a necessary conversation. if we can't come together and figure out a way to stop spending someplace else to pay for this disaster, do we hope to be able to balance our budget and fix our spending diffi
. thanks at lot. next on the run down do both parties actually want to go over the fiscal cliff to save political face? we'll debate it the state department officials out of their jobs after the benghazi terrorist attack are reportedly still on the payroll. we have details moments away. >> greg: continuing with top story tonight. with days to go. both parties want it to go over the fiscal cliff in order to save face politically and strike a deal next month. will that be too late? alex stewart a republican stat gist and here in studio my favorite juan, juan williams a fox news contributor. aren't the consequences of going off the fiscal cliff all that's miss something vegan lunches. you must be giddy about going over the cliff. not me i don't want to go over the cliff. i think, you know what? i have investments. i work for a living. guess what? it would be absolutely traumatic for the global economy and recession not in the midst of a strong recovery. it's pretty weak. i don't think it's good news for anybody. this is something that the press doesn't pay attention to, greg. i think if ob
. >>> a high level meeting to find a fiscal cliff deal. our next guest says the whole thing is going nuclear. we'll talk to ken rogoff on the economy. >>> plus amazing terrifying video when a 33-ton shark tank explodes. you do not want to be near the shark, who would be pretty annoyed. we'll show you the rest of this when we come back. [music: artist: willy moon song: "yeah yeah" label: universal] ♪ everybody well don't you know it's me now? ♪ ♪ yeah who's it, who's it huh? ♪ ♪ willy's back with a brand new beat now, ♪ ♪ yeah doin' it doin' it up! ♪ heyyy yeah, tryin' to bite my style! ♪ ♪ heyyy yeah, how you like me now? ♪ ♪ na na na na na na na na ♪ and everybody go uh! welcome back to "starting point." >> good morning, everybody. it's a fight between world powers with agonized parents and children caught right in the middle. russian president vladimir putin signed a bill that bans u.s. families from adopting russian orphans thought to be payback for a u.s. law that attackles human rights abuses in russia. moscow says too many orphans have been abused by their ame
for watching. more live coverage on the fiscal cliff crisis is coming up next.
the fiscal cliff the latest on negotiations next. >> and chang restrictions are lifted on rows are clearing fresnel in the sierra will have an update on conditions. >> plus many is offering free service to celebrate its 100th anniversary will have a live report as the kron 4 morning news continues into minutes no all and thank you for and joining us there have been three homicides and 98 minutes will have details coming up. >> the clock is ticking for a solution in washington. we are just four days away from a fiscal cliff. we was see what congress will do today. >> we are seeing an increase and cloud cover. it is a cold start outside. as we head into afternoon rain chances could start for the bay area. as we take a look at the numbers. it is 30 degrees in santa rosa. it is 39 currently in fremont. tomorrow morning we went may wake up to rainy weather. >> we are looking at pretty light traffic around the bay area. i do not think that we will see anything different than what we have seen all week long. right now but quick commute check shows there is a like ride through the east bay. the res
burden on millionaires. the result, find out next. >> bret: no grapevine. top story, fiscal cliff is going over it. the senate majority leader, not moved the bill to the senate floor yet. the house would only deal with whatever passed the senate. if it passed the senate at all. all indications are the house will not vote on any fiscal cliff legislation tonight. here is how the potential deal stacks up. they will be taxed at 39.6%. up from 35%. tax on capital gain and individuals for $400,000 for individuals would increase to 20%. from 15%. the alternative minimum tax is permanently indexed to inflation. it has been annual patch. that would be permanent. the plan extent the child tax red earned income tax credit. up to $2,500 tax credit for collision tuition. unemployment benefit are extented for one year. same for the medicare doc fix and the social security payroll tax cut. reverse to rate of 6.2%. those are the deals as they stand right now. although things are developing and they could change. those looking to europe for inspir ration and coming up with american tax rates that
cliff. we'll see what happens over the next few hours. tom foreman, thank you. much more on the fiscal cliff coming up. >>> there are serious ramifications for almost every american involved in this negotiati negotiation. we'll update when when we come back. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. >>> okay, we've got the breaking news we're following here in washington. we've been thinking about it. we've been talking about it for a long time. guess what, the united states is now going over the so-called fiscal cliff. that's because the house of representatives is adjourning as
or not the nation will go over the fiscal cliff in the next few days. this won't end the discussion, but it should launch us into the next steps. can they hash out the basic form of an agreement, a scaled down agreement. if they reach that threshold, can the senators assure each other that they have the time to get this done and no senator will filibuster it? if that's the case, they bring it to a vote tomorrow, and/or sunday and does the house agree to bring it to a vote on the floor of the house. those are a lot of ifs and we have until just monday night to get it all done. >> you'll be standing by, watching it all with every single detail. thank you, jessica yellin. now to lisa desjardins, live on capitol hill for us. so, lisa, just caught you talking with senator ben nelson of nebraska. here's what he said. >> if we don't have a deal within the next 24 hours, the question is where do you buy a parachute? looks like we'll be going over the cliff. because the closer we get to the end, the less likely it is you're going to be able to compress an agreement into place that will have enough votes to
tax bills rise next year by $2,000. the fiscal cliff isn't the only thing rattling the economy. in just a few weeks lawmakers will begin battling over the debt ceiling. you may recall that in the summer of 2011 the debt limit standoff led to the first ever downgrade of the nation's credit rating. joining us now from capitol hill is cnbc's aman jabbers. appreciate you helping us make sense of all of this. >> happy new year. thank you for having me. >> on a less happy note, there are economists who are saying this whole fight over the fiscal cliff, the rangeling in washington has already caused a hit on the economy. can you explain sort of what the impact of the debate has been. >> you dw definitely seen it. ju as early as friday when we report that the president was not making his new offer with offers down at the white house. we saw the stock market sell off rather dramatically just in those couple of minutes as that news was coming out. i got to say that over the past 24 hours or so the stock market has been relatively calm sort of expecting a deal, expecting that lawmakers wi
that affect your bottom line, from facebook's ipo to the new apple boss, to the fiscal cliff. a look at the biggest money stories of the year. >>> and later this hour, the ten most intriguing people of 2012 as chosen by you. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. till you finish your vegetables. [ clock ticking ] [ male announcer ] there's a better way... v8 v-fusion. vegetable nutrition they need, fruit taste they love. could've had a v8. or...try kids boxes! to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just got "blacked out." [ brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture card! for any flight, any time! that's double miles you can actually use! how illuminating. what's in your wallet? let me guess, am i on the naughty list again? ho ho ho! when i'm out with
to the fiscal cliff may be brewing. but wait until you hear where the latest push is coming from. you will be surprised. stay with us. two minutes away. aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ they don't help single moms. hi! hi! [ sarah ] what happened to our house last year? [ daughters ] it flooded and the water flooded out. yeah. [ sarah ] the red cross arranged the hotel for us. they gave me that break, that leverage, to be able to get it together and take care of them. you know? i feel like we've come full circle. [ daughter 1 ] like that! [ daughter 2 ] this is how i'll do it. [ sarah ] there you go. >> starbucks sending a strong message to lawmakers who can't seem to compromise to avoid the fiscal cliff. employees are writing the word "come together" on company's coffee cups. starbucks said it's a message to lawmakers about avoiding the fiscal cliff. they said the elected of
and that being the so called fiscal cliff but the other side of that cliff is that the massive spending cuts automatic cuts are kicking in at the beginning of next year. largely targeted at the pentagon. and what is interesting is all of this deal making we are talking about on capitol hill would really just focus on unemployment benefits and tax side of the cliff as i mentioned and most of deals it appears would not shut off the so called sequester that would hit the pentagon. on "fox news sunday" senator lindsey graham told chris wallace he got a call from the defense secretary suggesting these cuts are coming. lake a listen. >> i was called by leon panetta at 7:30 during dinner. >> secretary of defense. >> this is the failure of the supercommittee to find $1.2 trillion in cuts. half of the 1.2 falls on defense who already cut. he says if we do this we will shoot the defense department in the head and send out 800,000 layoff notices the beginning of the year. he is worried to death if we don't fix sequestration we will destroy the biggest military in the world at the time we need it most.
, which is in session. house republicans say they passed two bills already. on top of the fiscal cliff, there is the milk cliff, which could add to the weekly shopping bill in a big way. early next year, fight about raising the debt ceiling. after the scathing report on september 11 attack in benghazi, libbia, we thought that four mid-level government workers had taken the fall for the security failures at the state department. it turns out that is far from the case. we'll explain. it's been a year since the tornado flattened their church. but only now can the rebuilding begin. all because of red tape. grapevine, why being too attractive cost a woman her job. "special report" from washington starts at 6:00 p.m. eastern. now back to new york and "the five." ♪ ♪ >> welcome back to "the five." shop in saint paul has been warned to stop selling candy smokes with bubble gum cigars after they are trying to prevent kids from trying the real stuff one day. does anyone want to tie it throt is a nexus between candy cigarettes and bubble gum cigars and taking up smoking? any takers? smokers a
a raise. and if you are counting on a tax refund in the next few weeks, the fiscal cliff could force you to wait just a little bit longer than usual. >>> checking our top stories. the nation is now 14 hours away from the fiscal cliff. sources tell us vice president joe biden and senate minority leader mitch mcconnell talked through the night and vow to keep these negotiations going on today. the gridlock in washington could also hold up your tax refund. you might have to wait until late march to file if congress does not approve a short-term fix for the alternative minimum tax in the next few days. same issue two years ago delayed the opening of tax season by four weeks to mid-february. >>> former president george h.w. bush is still in a houston hospital but no longer in intensive care. bush was moved to regular patient room on saturday to continue his recovery. the 88-year-old was initially hospitalized with bronchitis last month, came down last week with a stubborn fever. >>> parts of the midwest are under a windchill advisory today. it's going to feel like 35 below in parts of minneso
spending cuts, what they have set up is a series of mini fiscal cliffs, if you will, kate. so every three to six weeks, over the next six months, we could be going through nights like this where we're up against the clock and congress has to act and the president -- they have to figure out how to compromise or watch automatic headaches kick in. >> chuck todd is going -- it's going to be a long night. thanks for being with us on wall street today, this final trading day of the year. investors were hopeful of a deal would be work out by the time the closing bell rang at 4:00. stocks soared to their highest point today. the dow finished 166 points up, the nasdaq 59 points and the s&p 500 was up almost 2400 points on the day. for the year, the dow finished with a 7% gain. the nasdaq was up almost 16% this year and the s&p 500 gained more than 13%, a very strong year for stocks. so let's bring in cnbc's senior economics reporter steve liesman. steve, we just said the market was way up today, they thought we would have a deal. now we're headed over the cliff. this can't be good news for our eco
look at next week and the fiscal cliff presumably happening, going over it, john boehner is supposed to be re-elected speaker on next thursday. >> on the 3rd, yeah. >> is that going to change everything and he's going to say, to hell with this right-wing tail wagging my dog, i don't need you guys anymore? >> no, because the house isn't the only theater of this. there's the senate, of course. we talked briefly about this earlier, but mitch mcconnell has a senate election in 2014. and if there's been one thing that's been noted over the past year, it's these crazy senate challengers have the chance of knocking off a person in the primary. and i'm assuming that mitch mcconnell knows that. >> this is great. this is great. we love this. tension at the convention of both ends of pennsylvania avenue, the white house, congress. this is terrific stuff. kurt, stay with us, okay? can you. we're begging you, begging you. >> you're adding gravitas to this. >>> we'll also bring in nbc news political director, chuck todd, also nbc white house correspo corresponde correspondent. >>> first, dylan dre
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